RegTech Intelligence

Legislative initiative: Alternative Investment Fund Managers Directive (AIFMD)

On 18 July 2016, ESMA, the European Securities and Markets Authority, published its advice to the European Parliament, the Council and the Commission on extending the Alternative Investment Fund Managers Directive (AIFMD) passport to 12 non-EU countries: Australia, Bermuda, Canada, the Cayman Islands, Guernsey, Hong Kong, the Isle of Man, Japan, Singapore, Switzerland and the


In the post-Easter week, regulators were busy shining a spotlight on remuneration practices in the industry.  We saw the EBA releasing a report looking at the high earners in EU banks and ESMA focusing on sound remuneration policies under the UCITS Directive and AIFMD. The FSB also met in Tokyo to discuss their priorities for


UK investment managers are becoming increasingly vocal in the Brexit debate, with the June referendum possibly marking a turning point for the industry.  These are top players in the European fund management industry, yet their dominance is dependent on the ability to do business across the continent.  In this sense, regulation matters … a lot. 


Know Your EU Remuneration

JWG analysis. Since the 2008 global financial crisis, there have been multiple bones of contention and areas of tussle between the regulators and members of the financial industry.  One example is the issue of remuneration, because of its reputation as a key driver for instilling particular behaviours within the financial industry.  Used correctly, it can


GIIN! … LEI! … PRN?

JWG analysis. Over the course of the year, JWG’s Customer Data Management Group (CDMG) has covered in-depth customer due diligence and KYC requirements under global tax, reporting and anti-money laundering regulation, and market monitoring under MAR/MAD2.  For the ninth CDMG meeting, JWG took a different direction and covered fund management regulation and the regulatory interdependencies


JWG analysis. Regulators have given a huge boost to the small and medium enterprise (SME) markets under EuVECA, which aims to support the harmonisation and growth of the EU’s venture capital funds.  Venture capital funds are investment funds that specifically focus on pooling funding from other financial institutions (such as pension funds) in order to


JWG analysis. “This regulation has the possibility to create a strong ecosystem for social enterprises across the union” In December 2011, the European Commission issued a press release highlighting the problems that businesses face when seeking conventional sources of funding due to the confusion surrounding their mix of social goals and business techniques.  Responses from


2015: time for your new operating model?

JWG analysis. 60 attendees across the buy and sell-sides came together at Markit’s seminar in Stockholm last month to discuss today’s industry challenges.  They concluded that a new focus on establishing a flexible banking operating model to meet both business and regulatory demands for data, processes and standards, is top on their wish list for 2015.


The ‘Super Tuesday’ safety net

JWG analysis. While the significant reforms of MiFID II, the BRRD, the SRM and the DGS stole the limelight on ‘Super Tuesday’, other significant legislation also made its way through Parliament. The following reforms highlight Parliament’s move to solidify consumer protection within the wider European market.  These reforms, the BAD, PRIIPs KID and UCITS V


Today, 22 July, marks the day that the Alternative Investment Fund Managers Directive (AIFMD), must be transposed into national law.  With the rules now technically in force, UK-based firms have a year to become compliant and apply for authorisation with the FCA. However, this apparently generous deadline disguises the fact that many managers may need